Satya Narayan Vs H.D.F.C. Irgo General Insurance Company Limited (Rajasthan High Court) The petitioners are claimants of motor accident compensation. Their claim petition was allowed by the Motor Accident Claims Tribunal awarding compensation with interest. At the time of payment of such compensation the insurance company had deducted tax at source on the interest component. […]
Ajit Lalwani Vs ACIT (TDS) (ITAT Indore) In the instant of two appeals assessee has challenged the levy of penalty u/s 271CA of the Act for the violation of provisions of section 206C of the Act. We find that the assessee has furnished copy of form 27BA along with copy of Income Tax return of […]
Fairdeal Shipping Agency Pvt. Ltd. Vs Joint Commissioner Of Customs (Preventive) (Rajasthan High Court) Provisions of Section 2(34) defines ‘proper officer‘, Section 6 which defines ‘functions and powers of custom officer’ and Section 28 which refers to ‘procedure of demand and recovery by the proper officer’ having jurisdiction to issue show cause notice and to […]
G.S. Pharmabutors Pvt. Ltd. Vs Additional Director General (CESTAT Delhi) There is no dispute that the appellant had undertaken the peripheral processes. Whether any other process or processes, apart from peripheral processes, had been undertaken by the appellant so as to amount to manufacture contemplated in section 2(f) of the Excise Act would have to […]
Glaxosmithkline Pharmaceuticals Ltd. Vs ACIT/DCIT (Bombay High Court) Admittedly, this is a case where the notice under Section 148 of the Act has been issued after the expiry of 4 years from the end of the relevant assessment year and assessment under Section 143(3) of the Act has also been completed. Hence, proviso to Section […]
Calculation of Taxable and Non-Taxable Interest Under EPF/GPF | Income Tax (25th Amendment) Rules, 2021 The Government has changed the rules for calculation of interest on EPF/GPF/RPF Accounts and has set threshold limit for contribution in EPF Rs. 2.50 Lakhs and GPF Rs. 5.00 Lakhs on which interest received will not be taxable. Any interest […]
GST: Revision of Limit of Aggregate Turnover For E-Invoice W.E.F. 01.04.2022 CBIC made E-invoice under GST mandatory for registered persons having aggregate turnover above ₹20 crore in any of the previous years from 2017-18 till 2021-22 with effect from 01st April, 2022. The existing limit of ₹50 crores has been reduced to ₹20 crores vide […]
8 Amendments in Finance Bill 2022 to overturn established judgements Unsuccessful Appeal Submissions Turned into Explanatory Memorandum to Finance Bill!! Just 1 less than 200, i.e., 199. Well yes Friends, that is the total page count of this year’s Memorandum explaining the provisions in the Finance Bill 2022, and going through these 199 pages of […]
